Bike replacement under insurance

[Paul_L]

Had my first major accident on a bike last week. Not too bad in 20 years plus of riding. Fell off at speed on a downhill. 3 nights in hospital followed, but luckily no broken bones but lots of cuts and bruises and a lot of ligament and muscle damage. Not that i'll be riding for a few weeks as i'll be on crutches for 2 weeks, but i'm also lucky that my bike is insured for accidental damage under my contents cover.

The bike is a right off, mainly due to damage to the carbon frame and forks. There's also a bit of damge to bars, front brake and rear mech.

My insurance company (M&S Money) have appointed wheelies.co.uk to deal with the bike replacement. Wheelies have contacted me today offering me any bike upto a value of £1800 from their web site. I would have preferred a cash settlement so i could have sorted a bike from my LBS but this isn't possible, but not withstanding this, their offer is a decent one.

One thing which is a slight disappointment is they will collect the damaged bike. I was kind of hoping i'd be able to keep that and scrap the damaged frame but basically be able to salvage the bits that weren't damaged. There isn't much but rear wheel, rear brake, front mech, chainring and cranks plus brake hoods are all in good working order so would come in handy as spares. Am i expecting too much? know it seems a bit having my cake and eating it, but i also dont expect the insurance company or bike shop acting of their behalf will do anything with the bits either. There'll all 18 months old so won't have any value as far as their concerned.

Is this standard practice or is it worth me asking to keep the useable bits, and basically send them back the knackered frame and front end?

 

[Norm]

Wanting them for nothing is, at the very least, a bit optimistic. Make them an offer, they'd probably be grateful to avoid collection and disposal costs.

 

[TheDoctor]

I'd personally take off any bits you want, and replace them with knackered bits from the spares heap. It'll only end up in a skip...
I'm surprised they're doing this. A friend of a friend of a friend of someone I don't know (or something) got a replacement bike from her insurance, then flogged the old one, which just needed a new front wheel. Thankfully the person who bought it (whoever that was ) had one in my spares heap. Erm, his spares heap. Or hers. Possibly.

 

[Enw.nigel]

My insurance company (M&S Money) have appointed wheelies.co.uk to deal with the bike replacement. Wheelies have contacted me today offering me any bike upto a value of £1800 from their web site. I would have preferred a cash settlement so i could have sorted a bike from my LBS but this isn't possible, but not withstanding this, their offer is a decent one.

I had to replace my bike when it was stolen and Wheelies was my insurance company's nominated site. I wasn't interested in any of the bikes from Wheelies so contacted my insurance company and we agreed that I could find a replacement elsewhere. This I did and sent a copy of the receipt to my insurance company and the refund of my money(up to the insured amount) was refunded. Insurance companies are moving away from cash settlements for bikes because of 'false' claims.
You could try contacting M&S and explain that the bike with the spec. you want is not available from Wheelies (mine wasn't) and you have seen one elsewhere.
Mind you the deal you have from Wheelies could be good because they allow an extra 20% of purchase value.

 

[Paul_L]

Wanting them for nothing is, at the very least, a bit optimistic. Make them an offer, they'd probably be grateful to avoid collection and disposal costs.

Not a bad shout. It'd save them transport if nothing else. I might offer them £50 for salvage.

I'd personally take off any bits you want, and replace them with knackered bits from the spares heap. It'll only end up in a skip...
I'm surprised they're doing this. A friend of a friend of a friend of someone I don't know (or something) got a replacement bike from her insurance, then flogged the old one, which just needed a new front wheel. Thankfully the person who bought it (whoever that was ) had one in my spares heap. Erm, his spares heap. Or hers. Possibly.

This is also a decent idea although i have no old spares to replace the good kit. I wonder if they would come back to me if all i sent them was the knackered frame and damaged bits, having stripped the bits in working order?

Norm's idea sounds like the one with some integrity. Or i could suggest i scrap it myself and write them a letter to that effect, that way they would be absolved from any responsibility for any future component failure.

 

[stephen.rooke]

if your getting a pay out on the incurance, the bike becomes there property so if you took bits off and they noticed it would probably be classed as theft.

just ask them for a salvage price

 

[PK99]

My insurance company (M&S Money) have appointed wheelies.co.uk to deal with the bike replacement. Wheelies have contacted me today offering me any bike upto a value of £1800 from their web site. I would have preferred a cash settlement so i could have sorted a bike from my LBS but this isn't possible, but not withstanding this, their offer is a decent one.
?

my insurer (Hiscox - house & contents) nominated someone, I called saying I preferred to deal with my LBS. a cheque for the full amount less Excess, which i claimed from SMISY man, arrived a day or so later, I kept the old bike.

 

[Paul_L]

Well that's a result. The old bike is mine for £50. I had a battle though. Wheelies weren't interested full stop. Spoke to a couple of people there and they just wouldn't entertain the idea. I even managed to convince them the stupidity of them arranging transport from South Wales to Yorkshire (their cost) and disposal (their cost) when i was prepared to give them money to avoid their costs. They recognised this, as well as the fact that a knackered bike with some useable bits on it was just going to end up in landfill, but they still wouldn't budge.

Not letting this utter madness pass i contacted M&S Money who were perfectly happy with my suggestion, took £50 over the phone and confirmed the old bike is still my property.

Backs up something else i've read on here that M&S Money's service is excellent. Wheelies' less so.